Toyota, BMW Invest in EV Shuttle System

Venture funds take stakes in startup May Mobility, which uses electric vehicles for low-speed, self-driving systems in CBDs, campuses

BMW i Ventures and Toyota AI Ventures, venture-capital arms of their respective automaking groups, are among the leading investors in the $11.5-million “seed investment” funding round for a Michigan-based startup developing low-speed, self-driving electric shuttle systems.

The startup is May Mobility, which has devised a package of autonomous vehicles to be used as point-to-point or circulating shuttles, such as for central business districts, parking complexes, or campuses. It was established last year by several automotive industry engineers and executives.